2014

CreditCards.com Weekly Credit Card Rate Report: Credit Card Interest Rates Remain At 14.95 Percent

 

AUSTIN, Texas, Aug. 21, 2013 /PRNewswire/ -- Average rates on new credit card offers remained at 14.95 percent Wednesday, according to the CreditCards.com Weekly Credit Card Rate Report.

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The average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Averages


Avg. APR

Last week

6 months ago

National Average

14.95%

14.95%

14.96%

Low Interest

10.46%

10.46%

10.29%

Balance Transfer

12.44%

12.44%

12.59%

Business

12.98%

12.98%

13.13%

Student

13.27%

13.27%

13.31%

Cash Back

14.51%

14.51%

14.17%

Airline

14.63%

14.63%

14.63%

Reward

14.77%

14.77%

14.76%

Instant Approval

28.00%

28.00%

15.49%

Bad Credit

23.48%

23.48%

23.64%

Source: CreditCards.com

Updated: 8-21-2013

Issuers left interest rates alone this week. However, not all credit card terms remained the same.

American Express, for example, lengthened the promotional APR period on three of its flagship credit cards: the Blue Cash Everyday card, the Blue Sky card and the Blue card. Applicants for all three cards may now qualify for a 0 percent APR on purchases for up to 15 months. The issuer also introduced a 15-month, 0 percent balance transfer offer to each card.

Barclays, meanwhile, canceled a test offer on the US Airways Premier World MasterCard. The issuer eliminated the card's 12-month introductory APR after introducing the offer last week. In addition, Barclays extended the World MasterCard's 0 percent balance transfer period from 12 months to 15 months.

The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.

About CreditCards.com
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.

SOURCE CreditCards.com



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